https://www.taxtmi.com/caselaws?id=61596 The Tribunal partly allowed the assessee's appeal, directing reassessment of financial charges and a fixed deduction of Rs. 1 lakh for management expenses in computing the deduction under Section 80M. The Tribunal confirmed that the deduction under Section 80M should be on the net dividend income and emphasized the deduction of interest on borrowed money used for acquiring shares under Section 57. The Tribunal also clarified that proportionate management expenses must be deducted in computing the deduction under Section 80M. en-us Fri, 02 Apr 2004 00:00:00 +0530 Wed, 18 Jul 2012 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61596 The Tribunal partly allowed the assessee's appeal, directing reassessment of financial charges and a fixed deduction of Rs. 1 lakh for management expenses in computing the deduction under Section 80M. The Tribunal confirmed that the deduction under Section 80M should be on the net dividend income and emphasized the deduction of interest on borrowed money used for acquiring shares under Section 57. The Tribunal also clarified that proportionate management expenses must be deducted in computing the deduction under Section 80M. Case-Laws Income Tax Fri, 02 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61596